Goyoung Technology Achieves Record First Quarter Sales Despite COVID-19

Provisional Consolidated Sales of 50.7 Billion KRW in Q1 2020... 6.1% Increase Compared to Same Period Last Year

[Asia Economy Reporter Kim Cheol-hyun] The Korea Association of Medium Enterprises (hereinafter referred to as KAME) announced on the 16th that its member company, 3D measurement technology specialist Goyoung Technology, achieved its highest-ever first-quarter sales performance. Goyoung Technology's first-quarter sales reached 50.7 billion KRW, a 6.1% increase compared to the same period last year. Operating profit for the same period was 5.6 billion KRW, down 16.6% year-on-year, but despite the economic downturn caused by the novel coronavirus disease (COVID-19), it increased by 15.1% compared to the previous quarter. The operating profit margin stood at 11.1%.

Surface Inspection Equipment (SPI) 'KY8030-3'

Goyoung Technology cited the surge in demand for component mounting inspection equipment (AOI) in the rapidly growing Chinese mobile phone and smart device markets, as well as strong performance in solder paste inspection equipment (SPI) sales, which grew 41% year-on-year in the domestic market, as key factors driving sales growth. Since 2006, Goyoung Technology has maintained the number one global market share in 3D SPI for 14 years and counts over 2,500 companies worldwide, including Siemens and Bosch, among its clients. After its establishment in 2002, the company surpassed 100 billion KRW in sales within 10 years and achieved 200 billion KRW in sales in 2018.